Blue Apron (APRN) Shares Up 6.4%

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Blue Apron Holdings Inc (NYSE:APRN) shot up 6.4% during mid-day trading on Monday . The stock traded as high as $1.51 and last traded at $1.50. 4,474,765 shares were traded during mid-day trading, an increase of 23% from the average session volume of 3,648,557 shares. The stock had previously closed at $1.41.

Several research firms recently issued reports on APRN. Zacks Investment Research downgraded Blue Apron from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Barclays cut their price objective on Blue Apron from $3.50 to $2.50 and set an “equal weight” rating on the stock in a report on Monday, August 6th. Morgan Stanley cut their price objective on Blue Apron from $1.90 to $1.30 and set an “equal weight” rating on the stock in a report on Friday, August 3rd. SunTrust Banks reiterated a “hold” rating and issued a $2.00 price objective on shares of Blue Apron in a report on Thursday, August 2nd. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $6.00 price objective on shares of Blue Apron in a report on Thursday, August 2nd. Nine analysts have rated the stock with a hold rating and three have given a buy rating to the company. Blue Apron has a consensus rating of “Hold” and an average price target of $3.34.

The company has a quick ratio of 2.30, a current ratio of 2.74 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $271.42 million, a price-to-earnings ratio of -0.77 and a beta of -0.10.

Blue Apron (NYSE:APRN) last issued its quarterly earnings results on Thursday, August 2nd. The company reported ($0.17) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.17). Blue Apron had a negative return on equity of 89.80% and a negative net margin of 24.64%. The company had revenue of $179.60 million for the quarter, compared to the consensus estimate of $188.51 million. During the same quarter in the prior year, the business earned ($0.47) EPS. Blue Apron’s revenue was down 24.6% on a year-over-year basis. On average, analysts forecast that Blue Apron Holdings Inc will post -0.72 earnings per share for the current year.

In other news, major shareholder First Round Capital Iv, L.P. sold 1,300,000 shares of the stock in a transaction dated Tuesday, September 25th. The stock was sold at an average price of $1.70, for a total value of $2,210,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CTO Ilia M. Papas sold 133,134 shares of the stock in a transaction dated Monday, October 8th. The shares were sold at an average price of $1.49, for a total value of $198,369.66. Following the completion of the transaction, the chief technology officer now owns 194,777 shares in the company, valued at approximately $290,217.73. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,589,039 shares of company stock worth $2,693,555. 56.24% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. River & Mercantile Asset Management LLP increased its holdings in shares of Blue Apron by 3.7% in the 2nd quarter. River & Mercantile Asset Management LLP now owns 4,025,413 shares of the company’s stock valued at $13,425,000 after acquiring an additional 142,660 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Blue Apron by 285.7% in the 2nd quarter. Millennium Management LLC now owns 2,242,735 shares of the company’s stock valued at $7,513,000 after acquiring an additional 1,661,211 shares during the last quarter. Raymond James Trust N.A. increased its holdings in shares of Blue Apron by 216.9% in the 3rd quarter. Raymond James Trust N.A. now owns 150,451 shares of the company’s stock valued at $259,000 after acquiring an additional 102,982 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Blue Apron in the 3rd quarter valued at about $208,000. Finally, Northern Trust Corp increased its holdings in shares of Blue Apron by 55.8% in the 2nd quarter. Northern Trust Corp now owns 85,533 shares of the company’s stock valued at $287,000 after acquiring an additional 30,625 shares during the last quarter. Institutional investors and hedge funds own 13.11% of the company’s stock.

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About Blue Apron (NYSE:APRN)

Blue Apron Holdings, Inc operates an e-commerce marketplace that delivers original recipes and fresh ingredients for making home cooking accessible. It provides original recipes with the pre-portioned ingredients to complement tastes and lifestyles of college graduates, young couples, families, singles, and empty nesters.

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